Taxation Laws Amendment Act (No. 6) 2001 (169 of 2001)
Schedule 6 Personal services income
Part 4 Other amendments
Income Tax Assessment Act 1936
16C After section 222AOB
222AOBAA Directors to cause company to remit or to go into voluntary administration or liquidation - alienated personal services payments
(1) The persons who are directors of the company on the payment day in relation to the payment or payments (referred to in paragraph 222AOA(1)(ba)) must cause the company to do at least one of the following before the end of the payment day:
(a) comply with section 13-5 and Subdivision 16-B in Schedule 1 to the Taxation Administration Act 1953 in relation to each payment relating to the payment day;
(b) make an agreement with the Commissioner under section 222ALA in relation to the company's liability under that Subdivision in respect of each such payment;
(c) appoint an administrator of the company under section 436A of the Corporations Act 2001;
(d) begin to be wound up within the meaning of that Act.
(2) The payment day is the day on which the company must pay an amount under section 13-5 in Schedule 1 to the Taxation Administration Act 1953 to the Commissioner in relation to the payment or payments (referred to in paragraph 222AOA(1)(ba)).
(3) This section is complied with when:
(a) the company complies as mentioned in paragraph (1)(a); or
(b) the company makes an agreement as mentioned in paragraph (1)(b); or
(c) an administrator of the company is appointed under section 436A, 436B or 436C of the Corporations Act 2001; or
(d) the company begins to be wound up within the meaning of that Act;
whichever first happens, even if the directors did not cause the event to happen.
(4) If this section is not complied with before the end of the payment day, the persons who are directors of the company on that day continue to be under the obligation imposed by subsection (1) until this section is complied with.